The Trump administration has approved Oracle as a "trusted technology provider" in the United States for Chinese video sharing platform TikTok and the deal is expected to be formally announced later on Tuesday, CNBC reported
WASHINGTON (Pakistan Point News / Sputnik - 15th September, 2020) The Trump administration has approved Oracle as a "trusted technology provider" in the United States for Chinese video sharing platform TikTok and the deal is expected to be formally announced later on Tuesday, CNBC reported.
"Approval of Oracle's deal to become a 'trusted technology provider' for ByteDance's TikTok will be announced on Tuesday afternoon," the report said.
On Monday, US Treasury Secretary Steve Mnuchin said the White House had received Oracle's winning bid for TikTok during the weekend and expected to complete within two days its review of the deal to see if it satisfied the Trump administration's requirement on the protection of data for US users of the platform.
President Donald Trump said earlier that TikTok would be banned by September 15 if the company was not acquired by a US entity, prompting the Chinese parent company ByteDance to sue the administration in US court.
